DATE: February 26, 2019
TO: Board of Supervisors
SUBMITTED BY: Fresno County Employees' Retirement Association
SUBJECT: Adopt Government Code ? 31458.4 Allowing Designation of
Beneficiaries
RECOMMENDED ACTION(S):
TITLE
Adopt a Resolution (1) making Government Code ? 31458.4 applicable in Fresno County, allowing a Fresno County Retirement Association ("FCERA") member's ex-spouse ("alternate payee") who is receiving or is entitled to receive payments from FCERA pursuant to a court order dividing the community property interest in the FCERA member's retirement allowance to designate one or more beneficiaries to receive those payments following the death of the alternate payee, and (2) directing the Clerk of the Board of Supervisors to transmit a certified copy of the adopted Resolution to the FCERA Board of Retirement and FCERA.
REPORT
The FCERA Board of Retirement has requested your Board to adopt Government Code ? 31458.4 to enable ex-spouses of FCERA members (who are benefit recipients, and who are entitled to a share of the FCERA members' community property under a martial settlement agreement or qualified domestic relations order), also called "alternate payees", to designate one or more beneficiaries. This agenda item allows the alternate payee to make a designation of one or more beneficiaries that may be different from what is provided under California law through the alternate payee's estate (or to provide for the payment if there is no estate created under probate). Currently, without adoption of ? 31458.4, the remaining benefits due are paid to the alternate payee's estate.
FISCAL IMPACT:
There are no fiscal or financial impacts from adoption of Government Code ? 31458.4.
DISCUSSION:
If ?31458.4 is adopted, an alternate payee, due benefits from FCERA, may name one or more beneficiaries to receive any remaining benefit due the alternate payee, upon the alternate payee's death. Absent adoption of ?31458.4, the remaining benefits due ar...
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